Mental health costs are higher than you think.
Recently, our team of Health Strategists analyzed the data* from the Springbuk Health Intelligence platform to uncover emergent trends in employee health. In our report, Employee Health Trends 2020, we explore these trends to offer critical insights for HR and benefits leaders as they prepare to lead their organizations’ health investment strategy in 2020.
One of the most significant trends we identified was the prevalence of and cost associated with mental health conditions. Our data demonstrated that 19% of all members have a mental health condition — and the average monthly costs for a member with a mental health condition are 2x that of a member without a mental health condition.
Getting Serious About Mental Health in the Workplace
As mental health continues to be central to our cultural dialogue about holistic health and well-being, employers are recognizing the role they play in supporting these needs. Some of the most common1 mental health conditions we identified are anxiety disorders, major depressive disorders, and ADHD. At the same time, some of the most costly2 are alcohol dependence, major depressive disorder, generalized anxiety disorder, and opioid dependence.
Mental health conditions can cause issues at work such as:
- Higher rates of absence
- Low productivity
- Performance issues
- Lower employee engagement
- Decreased employee satisfaction
Employers are getting serious about mental health because they have seen just how much it can affect employees’ lives and work, and its impact on financial outcomes — especially when it could be affecting up to a quarter of their members. Many organizations are beginning to encourage awareness and openness about mental health issues. By adjusting policies and practices to create a more supportive workplace culture, and using their data to generate insights on how to best treat, prevent, and maximize their investments in mental health interventions.
Learn More in Our Latest Report
As with any data, the most important thing to know about Health Intelligence is how to act on it. Employee Health Trends 2020 offers an actionable keen point of view on how to examine data within employee populations to make informed, forward-thinking decisions. In this report, we explore further insights such as:
- Mental health claim occurrence by industry
- The correlation between mental health and chronic physical conditions
- Newly emerging challenges of opioid abuse
- Key trends by age, industry, and chronic condition
1Most costly based on total PMPM for members on the Springbuk platform with mental health conditions.
2Most common based on the total number of members on the Springbuk platform.
*The report findings are the result of a quantitative analysis performed by Springbuk’s Health Strategy team. The analysis was based on aggregate and anonymized data sets from over 2,500 employers of various industries, sizes, and geographies. The purpose of the analysis was to identify trends in employee health.